I think he means Barlett offered him the club for £1, Assem thought about it then decided it was worth the risk. When he got the keys to the door he found £20-30m of unpaid bills on the doormat, shrugged his shoulders, and paid them, as you do. You starting believing the moon is made of green cheese if you say it enough times.
The bigger plan
- Thread starter Tony Angelino
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Well just give it a go. I can always ask someone to explain it to me.
Go on, Ulrika. Tell us why you love the Allams.
Just checked - As part of the deal, the Allams have agreed to make a 30m cash investment into Hull over the next 12 months and also provide personal guarantees against additional debts of 10m.
Assem claimed this was three times the amount of debt he was originally told when he was first approached about buying the club.
Assem claimed this was three times the amount of debt he was originally told when he was first approached about buying the club.
https://www.yorkshirepost.co.uk/spo...m-certain-hull-will-start-pay-its-way-1926019
Director of football operations Adam Pearson, who had been brought back to the KC Stadium 12 months earlier to try to attract new investment by then owner Bartlett, admitted at the time that the deal made “no business sense”.
I am fairly sure the second the ink was dry on the purchase contract, papa had to write a substantial cheque to the revenue to stave off yet another winding up order. The article gives numbers, but not who was owed the money.
Director of football operations Adam Pearson, who had been brought back to the KC Stadium 12 months earlier to try to attract new investment by then owner Bartlett, admitted at the time that the deal made “no business sense”.
I am fairly sure the second the ink was dry on the purchase contract, papa had to write a substantial cheque to the revenue to stave off yet another winding up order. The article gives numbers, but not who was owed the money.
Assam is on record saying they was hidden debt that they didn’t know about - a debenture on future ticket sales, mortgage on the stadium. I’ve got a link on it somewhere. Give me 30 min
It was a nominal pound because of the debt, as is standard for companies sold in distress, nobody was suggesting that the total cost was a ****ing pound.
Jesus wept.
Not having a pop, but fookin good luck with that. I have been trying the same for an hour now.
I support Hull City and have done through thick and mostly thin for 56 years and seen it all before and believe me we have been in far more worse positions then this and had a succession of owners who wouldn't even pay the electric bill never mind lone the club money at a low rate of interest.
When we find a fairy godmother with unlimited amounts of cash that wants to buy us and spend all her money whilst waving her magic wand in our favour I might start thinking like you.
But, sadly kempton, and you might find this difficult to take....they don't exist.
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Just answer the question. You claim the Allams bought us for a £1 and never once accepted the fact that it wasn't just one pound at all, it was substantially more, some £20-30 MILLION more because of the debt attached to the club which they paid but you are unable to accept that fact.
The mortgage on the stadium was no secret, that was taken out the day Bartlett and Duffen took over and was common knowledge.
How do you mortgage a stadium you don’t own?